Financial Adjustment
In fiscal year 2008, Meyer Burger concluded a contract of more than € 29 million (of which € 7 million could be charged sales-related) with Pevafersa, a manufacturer of solar systems, headquartered in Toro (Zamora), Spain. As a result of the global financial and economical crisis in 2008/2009, various important steps of this large-scale project could not be carried out as planned. In consequence, Meyer Burger has decided to cancel the contract and to adjust its order backlog accordingly.
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced today, that the company adjusts its order backlog by € 22 million (out of a total amount of € 29 million, € 7 million could be charged sales-related) The remaining amount was part of a planned large-scale project for the delivery of a fully integrated wafer manufacturing line to the Spanish solar system manufacturer Pevafersa. The order was communicated on 01 February 2008 through Meyer Burger Technology Ltd. As a result of the financial and economical crisis 2008/2009, the project did not proceed as planned by Pevafersa. In consequence, the Meyer Burger Group decided to adjust its order backlog and to cancel the contract as per immediate effect.
Thereby, the actual order backlog of the Meyer Burger Group amounts to more than CHF 700 million.